NEWS AND VIEWS FROM THE NEFARIUM MARCH 9 2023
March 9, 2023 / / Comments Off on NEWS AND VIEWS FROM THE NEFARIUM MARCH 9 2023
Podcast: Play in new window | Download (Duration: 12:52 — 17.7MB)
...uhm... about that Perth mint-gold doping story...
Posted in News & Views
No Comments
Help the Community Grow
Please understand a donation is a gift and does not confer membership or license to audiobooks. To become a paid member, visit member registration.
If you read up on Mark McGowan’s career (Western Australia’s Premier and was the Minister responsible for the Perth Mint for four years until March 2021), he also reached the rank of a lieutenant and was a legal officer in the Australian Navy (HMAS Strirling) for several years before becoming a politician.
He has recently pushed for US and UK nuclear powered submarines to be based and maintained near Perth under the AUKUS pact despite the risk of inflaming the West’s tensions with China.
https://www.afr.com/politics/federal/decision-to-base-us-subs-near-perth-likely-to-upset-some-in-labor-20230310-p5cr4y
Some gold jewelry makers would purposefully make their alloys slightly below the stamped karat and pocket the cut gold to steal from their employers or rip off the customers. When dealing with large volumes of gold this can add up quick. If they were not too greedy this skimming would be hard to detect with most simple acid tests. With the volumes mentioned being sold, turning five 9’s gold purity bullion into four 9’s purity bullion nets a hefty sum while still remaining true to the clients order. If this was company policy to recuperate or reduce expenses the people involved in the process might have decided to skim a tiny bit more of a fraction for themselves while they were at it for the company. Likely thought the bullion would go to their regular type of customer, like private bullion stackers, who would never discover the theft. Unfortunately it went to a customer who checked instead.
Gold being sold to the jewelry industry who were not in the habit of checking it too carefully would make such skimming tempting to the employees without the company knowing about the theft as well. If employees were stealing from the company that would explain why they hid the in house assay before shipping. They couldn’t tell their employer they were skimming and all the bullion had to be refined again. Likely they were sweating bullets hoping they wouldn’t get found out but knowing they were just buying themselves a little bit more time before they would have to face the music. Explains why so much karat jewelry is way below it’s supposed karat sometimes. Refiners skim as much as they can get away with when they can. Jewelry maker skims a little more when making the jewelry. Poor end customer doesn’t have a clue until he goes to sell it to a gold buyer when he has to.
Agreed that this could well be about money laundering and/or trying to make the gold market look unreliable, in preparation for central-bank digital “currencies” and to counter the growing trend of state bullion depositories. To those speculations I’d add a third: If China was indeed the target of a gold scam, maybe this is about creating mistrust in the integrity of the Chinese gold market specifically. That’s one way to fight China’s ability to back its currency with gold or trade gold for commodities.
Umm?
2018? Mixing in copper and/or silver; but keeping purity above 99.99%?
But Shanghai has even more stringent standards?
Only 620,000 dollar profit; to risk priceless West’s top mint’s reputation?
One knows being caught is certain. So what’s really going on?
Damn close to pure; but when dealing w/vast amounts, what’s that add up to?
Where’s China’s world famous spy network on this one?
How about that guy that defected to the USA Defense Department??
Did China know and keep it secret; to not alert Australia, that it had penetrated its network?
First alleged “caught impure gold” in 2021?
Was it sabotage from w/in; originated by foreign agents from w/o?
But the criminal side of the gold bars is perfect for laundering vast amounts.
So why risk both operations; by such a small gain?
Unless, it’s a monopoly concern?
Others are getting in the gold bullion business; upsetting certain monopoly players?
Are the USA State’s bullion markets just starting to be realized, a target?
Are the monopolist muddying the gold bullion markets?
The Commonwealth has a recent history of this?
Good questions. This story has that “mackerel on a moonlit beach” air of fishiness about it for sure.
Particularly those in Denmark.
Interesting Qs … all of the above. The most interesting part of this will be to see if anyone connected to this will be given the “ForrestalTreatment”.
Now instead of cooking the books, it’s cooking the gold they are getting ready to screw these USA State Bullion Depositories by making it look like the states can’t be relied on.